Energy prices will continue to rise well into the summer; Can leaders change that?

RALEIGH, NC (WNCN) – Energy prices have been rising for months and experts say there seems to be no end in sight.

While summer usually means higher fuel and electricity prices, experts say costs will continue to rise on top of typical summer peaks.

“Oil prices are likely to remain above $100 a barrel if the situation in Ukraine is not resolved. Natural gas prices will remain high,” said Dalia Patino-Echeverri, Duke Associate Professor of Energy.

As gas and electricity prices continue to rise in the US and around the world, is there anything our leaders can do to significantly change this? Patino-Echeverri says no at this point.

“In the short term, President Biden has already used these tools, like declassifying all strategic oil reserves; but it really won’t have a big impact because the volumes are very small compared to what’s needed,” Patino-Echeverri said.

The professor said the power increase in North Carolina will not be as bad as in states like Pennsylvania, where electricity prices could rise by as much as 45 percent. She tells CBS 17 it’s because of the variety of forms of energy that we have in North Carolina, like hydroelectric and nuclear. Energy prices will continue to rise well into the summer; Can leaders change that?

Dais Johnston

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